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SENIOR AFFAIRS COMMISSION <br /> MINUTES OF WEDNESDAY, JULY 8, 1992 <br /> COMMISSIONERS PRESENT: Chairperson Anthony, <br /> Commissioners Berglund, Jordan, <br /> Lloyd, Metzdorf, Sharp and <br /> Truscelli <br /> COMMISSIONERS ABSENT: None <br /> STAFF PRESENT: Park and Recreation <br /> Superintendent Sally Hartman, <br /> Library Supervisor Val Hamilton, <br /> and Secretary Denise Monroe <br /> GUESTS PRESENT: Executive Director Maria <br /> Bransford <br /> Chairperson Anthony called the regular meeting of the Senior Affairs <br /> Commission to order at 9:00 a.m. at the Senior Center Annex, <br /> 711 Nevada Street, Redwood City, California. <br /> APPROVAL OF MINUTES <br /> The minutes of the June meeting were approved as mailed. <br /> CORRESPONDENCE <br /> There was no correspondence. <br /> ITEM 1 - Reverse Mortgages - Commissioner Lloyd <br /> Commissioner Lloyd reported on the reverse mortgage product offered by <br /> Home Earnings Inc. which enables seniors to receive funds on a monthly <br /> basis by using the equity in their home. The amount received by the senior <br /> is based on a sliding scale and the amount borrowed is paid back after the <br /> sale of the home. The senior retains full ownership and is guaranteed to <br /> remain in their home as long as they need to; there is no chance of losing <br /> their home. Commissioner Lloyd noted the senior must be age 62 or older <br /> and their home must have a value of $75,000 or more. Commissioner Lloyd <br /> will call Home Earnings and request additional copies of their <br /> informational brochure. Executive Director Bransford said she would give <br /> the booklets to Mary Pappas and her HiCap staff for further review. <br /> ITEM 2 - Vital Concerns of Seniors Survey <br /> Chairperson Anthony requested the Commission request copies of the senior <br /> surveys from Healdsburg, Martinez and Madison, Wisconsin so the <br /> Commissioners could review them and possibly incorporate their ideas into <br /> the senior survey currently being developed for Redwood City. He felt <br /> there is a need to keep the survey short and concise to encourage a large <br /> response from the senior population. Chairperson Anthony said he would <br /> like to take the information received from the survey and present it to the <br /> City Council. <br />